Forward PER is in the range of 55-60 now. That means it takes 50 years of earnings to make back your money if you purchase the whole company now!
I believe ALL the good news and 4-fold increase in infant formula production has been baked into the share price already - in fact more than that, the news has baked into it that USA and UK will all be fine and nothing will go wrong. My dad is buying companies with PER of 5 to 10 with very high earnings growth. Above PER of 40-50 IMO reeks of lots of downside as compared to upside. My safety margin is gone already.
But oh well, time may prove me wrong. If I'm wrong, I'll just look for my new venture.
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